Ordinance issued to transform Moheshkhali into industrial hub
The government has issued an ordinance to transform Cox's Bazar's Moheshkhali area into a major industrial and commercial centre, anchored by the establishment of the Matarbari deep-sea port, to attract both domestic and foreign investment.
Published on July 23, the ordinance mandates the formation of the Moheshkhali Integrated Development Authority (MIDA), which will be responsible for overseeing and coordinating all development efforts in the region.
For all latest news, follow The Daily Star's Google News channel. The authority will prepare a comprehensive master plan to ensure the rational use of land to develop a modern industrial and commercial city with a seaport.
The master plan will divide the 34,181-acre area into four primary hubs—port and logistics, industry and manufacturing, power and energy, and a fisheries processing hub. These will be supported by residential townships and ancillary service hubs to ensure holistic development.
The move comes as the government pursues several major infrastructure projects aimed at converting the island, located in the southeastern coastal region, into an investment-ready industrial zone.
For example, the Japan International Cooperation Agency (JICA) is financing 11 projects, including the Matarbari Port Development Project, the Matarbari Ultra Super Critical Coal-Fired Power Project, and the Chattogram-Cox's Bazar Highway Improvement Project.
In April this year, the Chittagong Port Authority (CPA) signed a deal with a Japanese joint venture to construct a terminal for a deep-sea port at Matarbari, some 350 kilometres southeast of the capital Dhaka.
The 760-metre terminal will comprise a container jetty with a handling capacity of 800,000 TEUs a year and a multipurpose jetty.
The ordinance says the master plan will include completed and ongoing projects in the area.
The government will publish the draft master plan within one month in the gazette after it receives the plan, to receive opinions from stakeholders.
It will approve the finalised master plan within four months of the issuance of the gazette, according to the ordinance.
In the master plan on land use, specific areas could be selected for establishing export processing zones, areas for establishing domestic market-oriented industries, and protected areas with special privileges for foreign investors.
To attract investment, the MIDA will introduce a one-stop service linked to the Bangladesh Investment Development Authority's system. It will also prepare guidelines on incentives for local and foreign investors, facilitate environmental clearances, and ensure dedicated port and customs facilities for investors.
The authority may offer bonded warehouse benefits and other customs privileges for industries in its jurisdiction. Additionally, it will provide incentives similar to those available under the export processing zone law to promote export-oriented industries, according to the ordinance.
The governing board, which will provide policy guidance and approve activities, will be chaired by the chief adviser or the prime minister. The board will play a central role in shaping development decisions for the region.
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